HCW Biologics (NASDAQ:HCWB) Announces Quarterly Earnings Results

HCW Biologics (NASDAQ:HCWB) announced its earnings results on Friday. The company reported ($11.58) earnings per share for the quarter, missing the consensus estimate of ($1.98) by ($9.60), FiscalAI reports. HCW Biologics had a negative return on equity of 486.87% and a negative net margin of 34.73%.The company had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $5.73 million.

HCW Biologics Stock Down 8.2%

NASDAQ HCWB traded down $0.24 during trading on Friday, hitting $2.68. The stock had a trading volume of 130,111 shares, compared to its average volume of 72,278. The company has a market capitalization of $4.29 million, a PE ratio of -0.05 and a beta of 2.32. The firm has a 50 day moving average price of $4.71 and a 200 day moving average price of $4.89. HCW Biologics has a twelve month low of $1.50 and a twelve month high of $44.10.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HCWB shares. Weiss Ratings restated a “sell (e+)” rating on shares of HCW Biologics in a report on Friday, July 17th. Maxim Group boosted their target price on HCW Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen upgraded HCW Biologics to a “hold” rating in a research note on Saturday, May 23rd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.00.

Insider Activity

In other HCW Biologics news, Director Scott T. Garrett acquired 29,656 shares of the stock in a transaction dated Friday, May 22nd. The stock was acquired at an average price of $8.46 per share, with a total value of $250,889.76. Following the completion of the purchase, the director owned 33,906 shares in the company, valued at $286,844.76. This trade represents a 697.79% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 47,500 shares of company stock worth $310,875 over the last 90 days. 9.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HCW Biologics

A hedge fund recently bought a new position in HCW Biologics stock. Armistice Capital LLC purchased a new stake in HCW Biologics Inc. (NASDAQ:HCWB) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 300,180 shares of the company’s stock, valued at approximately $291,000. Armistice Capital LLC owned 9.15% of HCW Biologics as of its most recent SEC filing. 2.96% of the stock is owned by institutional investors and hedge funds.

HCW Biologics Company Profile

HCW Biologics Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel immunotherapies for chronic, low-grade inflammation, and age-related diseases in the United States. The company's lead products include HCW9218, which is in Phase 1 clinical chemo-refractory/chemo-resistant solid tumors with pancreatic, ovarian, breast, prostate, and colorectal cancers, as well as Phase 2 clinical trial with metastatic advanced stage ovarian cancer patients; and HCW9302 for autoimmune and proinflammatory diseases, such as alopecia areata diseases.